@gala-chain/launchpad 1.0.15 → 1.0.16

package/src/chaincode/launchpad/finaliseSale.ts

@@ -203,8 +203,8 @@ function calculateFinalLaunchpadPrice(
   areTokensSorted: boolean
 ): { sqrtPrice: BigNumber; finalPrice: BigNumber } {
   const totalTokensSold = new Decimal(sale.fetchTokensSold());
-  const basePrice = new Decimal(LaunchpadSale.BASE_PRICE);
-  const { exponentFactor, euler, decimals } = getBondingConstants();
+  const basePrice = new Decimal(sale.basePrice.toString());
+  const { exponentFactor, euler, decimals } = getBondingConstants(sale.adjustableSupplyMultiplier);
 
   const exponent = exponentFactor.mul(totalTokensSold).div(decimals);
   const multiplicand = euler.pow(exponent);

package/src/chaincode/launchpad/sellExactToken.spec.ts

@@ -21,11 +21,11 @@ import {
   asValidUserAlias,
   randomUniqueKey
 } from "@gala-chain/api";
-import { currency, fixture, users } from "@gala-chain/test";
+import { currency, fixture, transactionSuccess, users } from "@gala-chain/test";
 import BigNumber from "bignumber.js";
 import { plainToInstance } from "class-transformer";
 
-import { ExactTokenQuantityDto, LaunchpadSale } from "../../api/types";
+import { ExactTokenQuantityDto, LaunchpadSale, TradeResDto } from "../../api/types";
 import { LaunchpadContract } from "../LaunchpadContract";
 import launchpadgala from "../test/launchpadgala";
 
@@ -204,4 +204,141 @@ describe("sellExactToken", () => {
     expect(response.Data?.inputQuantity).toBe("500");
     expect(new BigNumber(response.Data?.outputQuantity || "0").isPositive()).toBe(true);
   });
+
+  let galaPurchaseQtyDefaultSupply: BigNumber;
+
+  test("Adjustable supply: Single transaction yields expected value for default 10 Million supply", async () => {
+    // Given
+    const multiplier = undefined;
+
+    sale = new LaunchpadSale(
+      vaultAddress,
+      currencyInstance.instanceKeyObj(),
+      undefined,
+      users.testUser1.identityKey,
+      undefined,
+      multiplier
+    );
+
+    const { ctx, contract } = fixture(LaunchpadContract)
+      .registeredUsers(users.testUser1)
+      .savedState(
+        currencyClass,
+        currencyInstance,
+        launchpadGalaClass,
+        launchpadGalaInstance,
+        sale,
+        salelaunchpadGalaBalance,
+        saleCurrencyBalance,
+        userlaunchpadGalaBalance,
+        userCurrencyBalance
+      );
+
+    const buyDto = new ExactTokenQuantityDto(vaultAddress, new BigNumber("500"));
+
+    buyDto.uniqueKey = randomUniqueKey();
+    buyDto.sign(users.testUser1.privateKey);
+
+    const expectedBuyResponse = plainToInstance(TradeResDto, {
+      inputQuantity: "0.00825575",
+      totalFees: "0",
+      totalTokenSold: new BigNumber("500").toString(),
+      outputQuantity: new BigNumber("500").toString(),
+      tokenName: "AUTOMATEDTESTCOIN",
+      tradeType: "Buy",
+      uniqueKey: buyDto.uniqueKey,
+      vaultAddress: "service|GALA$Unit$none$none$launchpad",
+      userAddress: "client|testUser1",
+      isFinalized: false,
+      functionName: "BuyExactToken"
+    });
+
+    const sellDto = new ExactTokenQuantityDto(vaultAddress, new BigNumber("50"));
+    sellDto.uniqueKey = randomUniqueKey();
+    const signedDto = sellDto.signed(users.testUser1.privateKey);
+
+    // When
+    const buyRes = await contract.BuyExactToken(ctx, buyDto);
+
+    const sellRes = await contract.SellExactToken(ctx, signedDto);
+
+    // Then
+    expect(buyRes).toEqual(transactionSuccess(expectedBuyResponse));
+
+    expect(sellRes.Status).toBe(1);
+    expect(sellRes.Data?.inputQuantity).toBe("50");
+    expect(sellRes.Data?.outputQuantity).toBe("0.00082579");
+
+    galaPurchaseQtyDefaultSupply = new BigNumber(sellRes.Data?.outputQuantity ?? 0);
+  });
+
+  test("Adjustable supply: Single transaction yields expected quantity for 100x scaled 1 Billion supply", async () => {
+    // Given
+    const multiplier = 100;
+    const inputQty = new BigNumber("50").times(multiplier);
+
+    sale = new LaunchpadSale(
+      vaultAddress,
+      currencyInstance.instanceKeyObj(),
+      undefined,
+      users.testUser1.identityKey,
+      undefined,
+      multiplier
+    );
+
+    const { ctx, contract } = fixture(LaunchpadContract)
+      .registeredUsers(users.testUser1)
+      .savedState(
+        currencyClass,
+        currencyInstance,
+        launchpadGalaClass,
+        launchpadGalaInstance,
+        sale,
+        salelaunchpadGalaBalance,
+        saleCurrencyBalance,
+        userlaunchpadGalaBalance,
+        userCurrencyBalance
+      );
+
+    const buyDto = new ExactTokenQuantityDto(vaultAddress, new BigNumber("500").times(multiplier));
+
+    buyDto.uniqueKey = randomUniqueKey();
+    buyDto.sign(users.testUser1.privateKey);
+
+    const expectedBuyResponse = plainToInstance(TradeResDto, {
+      inputQuantity: "0.00825575",
+      totalFees: "0",
+      totalTokenSold: new BigNumber("500").times(multiplier).toString(),
+      outputQuantity: new BigNumber("500").times(multiplier).toString(),
+      tokenName: "AUTOMATEDTESTCOIN",
+      tradeType: "Buy",
+      uniqueKey: buyDto.uniqueKey,
+      vaultAddress: "service|GALA$Unit$none$none$launchpad",
+      userAddress: "client|testUser1",
+      isFinalized: false,
+      functionName: "BuyExactToken"
+    });
+
+    const sellDto = new ExactTokenQuantityDto(vaultAddress, inputQty);
+    sellDto.uniqueKey = randomUniqueKey();
+    const signedDto = sellDto.signed(users.testUser1.privateKey);
+
+    // When
+    const buyRes = await contract.BuyExactToken(ctx, buyDto);
+
+    const sellRes = await contract.SellExactToken(ctx, signedDto);
+
+    // Then
+    expect(buyRes).toEqual(transactionSuccess(expectedBuyResponse));
+
+    expect(sellRes.Status).toBe(1);
+    expect(sellRes.Data?.inputQuantity).toBe(inputQty.toString());
+    expect(sellRes.Data?.outputQuantity).toBe("0.00082579");
+
+    const galaPurchaseQty100xSupply = new BigNumber(sellRes.Data?.outputQuantity ?? -1);
+
+    // Compared to the previous test where the Launchpad has the default 10 Million supply,
+    // We expect the Meme token Qty to scale 100x and the Gala Qty to remain the same
+    expect(galaPurchaseQtyDefaultSupply).toEqual(galaPurchaseQty100xSupply);
+  });
 });

package/src/chaincode/launchpad/sellWithNative.spec.ts

@@ -26,7 +26,7 @@ import { currency, fixture, transactionError, transactionSuccess, users } from "
 import BigNumber from "bignumber.js";
 import { plainToInstance } from "class-transformer";
 
-import { LaunchpadSale, NativeTokenQuantityDto, TradeResDto } from "../../api/types";
+import { ExactTokenQuantityDto, LaunchpadSale, NativeTokenQuantityDto, TradeResDto } from "../../api/types";
 import { LaunchpadContract } from "../LaunchpadContract";
 import launchpadgala from "../test/launchpadgala";
 
@@ -286,4 +286,160 @@ describe("sellWithNative", () => {
 
     // todo: check writes map, verify vault balance
   });
+
+  let galaPurchaseQtyDefaultSupply: BigNumber;
+  let memeSaleQtyDefaultSupply: BigNumber;
+
+  test("Adjustable supply: Single transaction yields expected value for default 10 Million supply", async () => {
+    // Given
+    const multiplier = undefined;
+    galaPurchaseQtyDefaultSupply = new BigNumber("0.00082579");
+    memeSaleQtyDefaultSupply = new BigNumber("49.999949130655");
+
+    sale = new LaunchpadSale(
+      vaultAddress,
+      currencyInstance.instanceKeyObj(),
+      undefined,
+      users.testUser1.identityKey,
+      undefined,
+      multiplier
+    );
+
+    const { ctx, contract } = fixture(LaunchpadContract)
+      .registeredUsers(users.testUser1)
+      .savedState(
+        currencyClass,
+        currencyInstance,
+        launchpadGalaClass,
+        launchpadGalaInstance,
+        sale,
+        salelaunchpadGalaBalance,
+        saleCurrencyBalance,
+        userlaunchpadGalaBalance,
+        userCurrencyBalance
+      );
+
+    const buyDto = new ExactTokenQuantityDto(vaultAddress, new BigNumber("500"));
+
+    buyDto.uniqueKey = randomUniqueKey();
+    buyDto.sign(users.testUser1.privateKey);
+
+    const expectedBuyResponse = plainToInstance(TradeResDto, {
+      inputQuantity: "0.00825575",
+      totalFees: "0",
+      totalTokenSold: new BigNumber("500").toString(),
+      outputQuantity: new BigNumber("500").toString(),
+      tokenName: "AUTOMATEDTESTCOIN",
+      tradeType: "Buy",
+      uniqueKey: buyDto.uniqueKey,
+      vaultAddress: "service|GALA$Unit$none$none$launchpad",
+      userAddress: "client|testUser1",
+      isFinalized: false,
+      functionName: "BuyExactToken"
+    });
+
+    const sellDto = new NativeTokenQuantityDto(vaultAddress, galaPurchaseQtyDefaultSupply);
+    sellDto.uniqueKey = randomUniqueKey();
+    const signedDto = sellDto.signed(users.testUser1.privateKey);
+
+    // When
+    const buyRes = await contract.BuyExactToken(ctx, buyDto);
+
+    const sellRes = await contract.SellWithNative(ctx, signedDto);
+
+    // Then
+    expect(buyRes).toEqual(transactionSuccess(expectedBuyResponse));
+
+    expect(sellRes).toEqual(
+      transactionSuccess(
+        expect.objectContaining({
+          outputQuantity: galaPurchaseQtyDefaultSupply.toString(),
+          // extra precision in set constant above accounts for loss of precision
+          // when increased by the multiplier below.
+          // here, we round to the token decimal places to match the internal logic
+          inputQuantity: memeSaleQtyDefaultSupply.decimalPlaces(10).toString()
+        })
+      )
+    );
+    galaPurchaseQtyDefaultSupply = new BigNumber(sellRes.Data?.outputQuantity ?? 0);
+  });
+
+  test("Adjustable supply: Single transaction yields expected quantity for 100x scaled 1 Billion supply", async () => {
+    // Given
+    const multiplier = 100;
+
+    // Same Gala purchase amount should buy 100x meme token output
+    const inputQty = new BigNumber(galaPurchaseQtyDefaultSupply);
+
+    sale = new LaunchpadSale(
+      vaultAddress,
+      currencyInstance.instanceKeyObj(),
+      undefined,
+      users.testUser1.identityKey,
+      undefined,
+      multiplier
+    );
+
+    const { ctx, contract } = fixture(LaunchpadContract)
+      .registeredUsers(users.testUser1)
+      .savedState(
+        currencyClass,
+        currencyInstance,
+        launchpadGalaClass,
+        launchpadGalaInstance,
+        sale,
+        salelaunchpadGalaBalance,
+        saleCurrencyBalance,
+        userlaunchpadGalaBalance,
+        userCurrencyBalance
+      );
+
+    const buyDto = new ExactTokenQuantityDto(vaultAddress, new BigNumber("500").times(multiplier));
+
+    buyDto.uniqueKey = randomUniqueKey();
+    buyDto.sign(users.testUser1.privateKey);
+
+    const expectedBuyResponse = plainToInstance(TradeResDto, {
+      inputQuantity: "0.00825575",
+      totalFees: "0",
+      totalTokenSold: new BigNumber("500").times(multiplier).toString(),
+      outputQuantity: new BigNumber("500").times(multiplier).toString(),
+      tokenName: "AUTOMATEDTESTCOIN",
+      tradeType: "Buy",
+      uniqueKey: buyDto.uniqueKey,
+      vaultAddress: "service|GALA$Unit$none$none$launchpad",
+      userAddress: "client|testUser1",
+      isFinalized: false,
+      functionName: "BuyExactToken"
+    });
+
+    const sellDto = new NativeTokenQuantityDto(vaultAddress, inputQty);
+    sellDto.uniqueKey = randomUniqueKey();
+    const signedDto = sellDto.signed(users.testUser1.privateKey);
+
+    // When
+    const buyRes = await contract.BuyExactToken(ctx, buyDto);
+
+    const sellRes = await contract.SellWithNative(ctx, signedDto);
+
+    // Then
+    expect(buyRes).toEqual(transactionSuccess(expectedBuyResponse));
+
+    expect(sellRes).toEqual(
+      transactionSuccess(
+        expect.objectContaining({
+          inputQuantity: memeSaleQtyDefaultSupply.times(multiplier).toString(),
+          outputQuantity: galaPurchaseQtyDefaultSupply.toString()
+        })
+      )
+    );
+
+    const galaPurchaseQty100xSupply = new BigNumber(sellRes.Data?.outputQuantity ?? -1);
+    const memeSaleQty100xSupply = new BigNumber(sellRes.Data?.inputQuantity ?? -1);
+
+    // Compared to the previous test where the Launchpad has the default 10 Million supply,
+    // We expect the Meme token Qty to scale 100x and the Gala Qty to remain the same
+    expect(galaPurchaseQtyDefaultSupply).toEqual(galaPurchaseQty100xSupply);
+    expect(memeSaleQtyDefaultSupply).toEqual(memeSaleQty100xSupply.dividedBy(multiplier));
+  });
 });

package/src/chaincode/utils/launchpadSaleUtils.ts

@@ -54,9 +54,13 @@ export async function fetchAndValidateSale(
   return sale;
 }
 
-export function getBondingConstants() {
+export function getBondingConstants(multiplier?: number) {
+  const exponentFactor =
+    multiplier && multiplier > 0
+      ? new Decimal("1166069000000").times(1 / multiplier)
+      : new Decimal("1166069000000");
   return {
-    exponentFactor: new Decimal("1166069000000"), // exponent factor / b
+    exponentFactor: exponentFactor, // exponent factor / b
     euler: new Decimal("2.7182818284590452353602874713527"), // e
     decimals: new Decimal("1e+18") // scaling factor for decimals
   };